Allspring Global Investments Holdings LLC Decreases Stock Holdings in H&E Equipment Services, Inc. (NASDAQ:HEES)

Allspring Global Investments Holdings LLC decreased its holdings in shares of H&E Equipment Services, Inc. (NASDAQ:HEES) by 40.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,101 shares of the industrial products company’s stock after selling 2,124 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in H&E Equipment Services were worth $162,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Invesco Ltd. lifted its holdings in H&E Equipment Services by 5.8% during the 3rd quarter. Invesco Ltd. now owns 1,355,880 shares of the industrial products company’s stock valued at $58,560,000 after buying an additional 74,699 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of H&E Equipment Services by 62.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 353,611 shares of the industrial products company’s stock valued at $18,501,000 after purchasing an additional 136,504 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in H&E Equipment Services by 9.0% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 309,899 shares of the industrial products company’s stock valued at $13,385,000 after buying an additional 25,599 shares during the period. Bank of New York Mellon Corp raised its stake in H&E Equipment Services by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 307,891 shares of the industrial products company’s stock worth $13,298,000 after buying an additional 5,840 shares in the last quarter. Finally, Redwood Investments LLC lifted its holdings in H&E Equipment Services by 21.9% during the third quarter. Redwood Investments LLC now owns 280,891 shares of the industrial products company’s stock worth $12,132,000 after buying an additional 50,410 shares during the period. 84.08% of the stock is currently owned by hedge funds and other institutional investors.

H&E Equipment Services Stock Performance

Shares of HEES stock opened at $58.65 on Monday. The company has a debt-to-equity ratio of 2.33, a current ratio of 1.05 and a quick ratio of 0.74. The business has a fifty day moving average of $59.53 and a 200 day moving average of $52.12. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of 12.56, a price-to-earnings-growth ratio of 0.82 and a beta of 1.95. H&E Equipment Services, Inc. has a 1 year low of $32.33 and a 1 year high of $66.18.

H&E Equipment Services (NASDAQ:HEES) last issued its earnings results on Thursday, February 22nd. The industrial products company reported $1.47 EPS for the quarter, beating analysts’ consensus estimates of $1.22 by $0.25. H&E Equipment Services had a return on equity of 36.72% and a net margin of 11.52%. The firm had revenue of $385.80 million for the quarter, compared to analyst estimates of $382.58 million. During the same quarter in the prior year, the firm earned $1.41 earnings per share. H&E Equipment Services’s revenue for the quarter was up 9.2% on a year-over-year basis. As a group, research analysts expect that H&E Equipment Services, Inc. will post 5.02 earnings per share for the current year.

H&E Equipment Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, February 23rd were paid a $0.275 dividend. The ex-dividend date was Thursday, February 22nd. This represents a $1.10 dividend on an annualized basis and a dividend yield of 1.88%. H&E Equipment Services’s payout ratio is currently 23.55%.

Wall Street Analyst Weigh In

HEES has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price target on H&E Equipment Services from $59.00 to $69.00 and gave the company a “buy” rating in a report on Friday, February 23rd. StockNews.com raised shares of H&E Equipment Services from a “hold” rating to a “buy” rating in a research report on Wednesday, February 21st. Finally, Wells Fargo & Company boosted their price objective on shares of H&E Equipment Services from $62.00 to $63.00 and gave the stock an “overweight” rating in a research note on Friday, February 23rd.

Insider Buying and Selling

In other H&E Equipment Services news, Director Gary W. Bagley sold 5,000 shares of the stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $56.34, for a total transaction of $281,700.00. Following the sale, the director now directly owns 59,151 shares of the company’s stock, valued at approximately $3,332,567.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Gary W. Bagley sold 5,000 shares of the business’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $56.34, for a total value of $281,700.00. Following the completion of the transaction, the director now owns 59,151 shares of the company’s stock, valued at approximately $3,332,567.34. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Bradley W. Barber sold 9,615 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.80, for a total value of $555,747.00. Following the sale, the chief executive officer now directly owns 223,127 shares in the company, valued at $12,896,740.60. The disclosure for this sale can be found here. Insiders sold a total of 75,800 shares of company stock valued at $4,534,789 over the last 90 days. Insiders own 12.50% of the company’s stock.

H&E Equipment Services Company Profile

H&E Equipment Services, Inc operates as an integrated equipment services company in the United States. The company operates in five segments: Equipment Rentals, Sales of Rental Equipment, Sales of New Equipment, Parts Sales, and Repair and Maintenance Services. The Equipment Rentals segment provides construction and industrial equipment for rent on a daily, weekly, and monthly basis.